The Advantages of Zcash (ZEC) Prove A Potential Crypto! - Kakiforex.com - Financial Market Media No. 1 in the World The Advantages of Zcash (ZEC) Prove A Potential Crypto! The Advantages of Zcash (ZEC) Prove A Potential Crypto!
InstaForex

June 17, 2021

The Advantages of Zcash (ZEC) Prove A Potential Crypto!

 Zcash serves as a digital and decentralized payment system which has the same functions as Bitcoin. It uses ‘zk-SNARK’ technology which allows nodes on the network to authenticate transactions without revealing any sensitive information about the transaction.


Zcash was founded in 2016 by Cypherhunk, and it was originally based on the Bitcoin codebase.


The main advantage of Zcash lies in its anonymity, unlike most other cryptocurrencies, which makes every detail of a transaction public, yet Zcash hides the information in the transaction to protect privacy and financial history. Transactions can be confirmed quickly and transaction fees are low.


Next, let’s look at the ZEC/USDT price movement chart.


ZEC recorded potential in the market by generating over 500% increase at the market opening of 2021 starting January through May 12 by recording an all -time high (ATH) level of $ 372.00.


From a technical point of view, ZEC is seen to have managed to break the RBS zone (resistance become support) around $ 140 where the resistance level has been tested several times before.



According to further expectations, if ZEC continues the bullish trend, the price movement will make an increase to test the SBR zone (support become resistance) again around the price of $ 165- $ 180.


The resistance level will be tested first before making a higher rise to head to the next SBR zone.


However, if the price movement sees a bearish trend, the RBS zone will be tested again before continuing to decline to the support zone around $ 100 that has been recorded before and will be the concern of investors.


At the time of writing, ZEC traded $ 144 up over 7% in the last 24 hours.